Saturday, October 2, 2010

New building orders pick up on improved market conditions

Hellenic Shipping News - 10.09.2010

Newbuilding order activity mainly on dry bulk carriers and tankers is picking up pace during the past few days, as owners have renewed their interest in investing into the renewal of their fleet. According to latest shipbroker reports, as much as 28 new building orders for vessels were made known, just during the past week. shipbroker Fearnley’s said that the contracts

Source:http://www.hellenicshippingnews.com/index.php?option=com_content&task=view&id=119967&Itemid=93
 were evenly distributed between bulkers, tankers and container ships.
“The recent container ordering spree in combination with continued bulker and tanker demand has pushed prices somewhat up. Prices might continue its course upwards during the fall solely based on strong demand” the report said.
Among the orders, Hellenic Shipping News Worldwide pointed out that of Athen Sea Carriers, a company owned by the Kiriakou family. The company reportedly placed an order for a pair of VLCC crude carriers, which have been scheduled for delivery during 2012 and 2013 respectively. Both vessels will bear a capacity of 317,000-dwt and will be built at Hyundai Heavy. The cost of the order wasn’t disclosed, but current newbuilding prices for a VLCC stand at $102 million.

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